As of August 15th, 456 Chinese businessmen lost their position on the Huran Research Institute’s “Rich List” of individuals worth over 2 billion yuan ($290 million USD) in 2018. This number accounts for 21% of the total and marks the largest drop-off since the data started being compiled 20 years ago. The trade war with the US and slowing growth trends over the past year saw a 16% drop in the Shanghai Composite Index and 19% on the Shenzhen. 20 years ago, there were only 8 people on the list, which reached a peak of nearly 2000 last year.
Source: One-fifth of Chinese tycoons drop out of Hurun Rich List | Asia Times
